Saudi’s Crown Prince Mohammed and Masayoshi Son; chief executive of Softbank, both signed a memorandum of understanding.

Son said that he envisions the project will create 100,000 jobs and save as much as $40bn in power costs. He also added that: “The kingdom has great sunshine, great size of available land, great engineers, and great labor, but most importantly the best and greatest vision,” reported Bloomberg.

CNBC reported that first, two solar parks would be built by 2019, and will deliver 7.2GW of power.

Both parks will cost around $5b with Softbank investing $1b, the rest will be funded by project financing and will be the foundations that lead to more solar energy solutions to be built in the future.

The caveat is that both parks will not include batteries, for now.

The $200b will finance building the solar parks, incorporating batteries and constructing a vast facility that will integrate solar manufacturing, Son told CNBC.

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